How to get a profitable car loan. Car loan & consumer loan, which is more profitable? Video: Which banks give loans with bad credit history

Planning to buy a car on credit, but don't know where to start? Start by choosing a lender. There are three main options - take out a consumer non-targeted loan or a car loan from a bank, or apply for a car loan at a car dealership that is accredited with several partner banks. You can seek advice from the offices of various banks or, using a car loan calculator, choose the most profitable car loan program, or you can look for the car you need at a car dealership, and then apply for a loan on the spot.

Car loan from a bank

Banks offer various lending programs, including preferential car loans with government subsidies at reduced interest rates. The most difficult question for a borrower is the right choice of bank and the most favorable lending conditions. The main criteria for choosing a car loan program include:

• the amount of the annual interest rate and down payment;

• term and currency of lending;

• conditions for issuance and repayment of loan obligations.

Car loans are always accompanied by additional costs, including insurance of the purchased car as collateral, its state registration and registration. Banks issue car loans to borrowers who have a permanent place of work and registration, taking into account the client’s age, monthly income and work experience. Therefore, when choosing a loan program, you should take into account all of the above factors, and not be tempted only by the lowest interest rates. To preliminary calculate costs and select a bank with the most favorable terms for a car loan, it is recommended to use a car loan calculator, which is available on almost all official websites of banks and large car dealerships.

When submitting an application for a car loan to the bank, provide a package of documents:

• passport of a citizen of the Russian Federation, identifying the borrower;

• driver's license;

• certificate of pension insurance and TIN;

• documents confirming the income of the borrower, and, if necessary, co-borrowers;

• a copy of the contract for the purchase of a car concluded with a car dealership, and a certified copy of the technical passport for the selected car.

It is possible to provide additional documents, depending on the selected bank and loan program. You should pay attention to the bank's special offers and preferential lending terms for clients who have a deposit or salary card and have a positive credit history. The most profitable lending programs for the borrower are in banks owned by automakers or having partnership agreements with them.

It is important to know that the purchased car under a collateral agreement becomes collateral for the loan received, although it is registered as the property of the borrower. Within a certain period (usually up to 10 days), the original vehicle passport is transferred to the bank for storage so that the borrower does not have the opportunity to deregister the car and sell it to third parties.

The main advantages of car loans from a bank:

• the ability to select a suitable car dealership from the proposed list of bank partner dealers;

• receiving free financial advice from a professional bank specialist;

• Reducing the time it takes to make a decision on an application, since documents are provided to the bank by the borrower in person.

If the borrower does not have documents confirming receipt of official income, there is no way to attract guarantors, or there are other reasons why the chance of getting a car loan is minimal, you can get a non-targeted loan from a bank to purchase a car. Bank lending conditions under such programs are more stringent and loans are issued at higher rates.

Car loan at a car dealership

It is more convenient for the borrower to apply for a loan at a car dealership, since a visit to a bank office is not required, and the choice of a car loan program and an insurance company is made from the list proposed by the seller. The buyer selects the desired car, then, at the dealership, submits an application for a loan with a minimum package of documents through a bank representative. After checking the documents, loan and collateral agreements are concluded.

The disadvantages of applying for a car loan at a car dealership include:

• higher annual interest rates on car loans compared to banks;

• increasing the time frame for making a decision on an application by the partner bank through which the loan is issued;

• There is no way to quickly use a loan calculator to calculate the most profitable loan program.

Today, banks offer clients an innumerable number of lending programs: from the purchase of primary housing to short-term consumer loans. The future borrower can only choose the most profitable option by comparing several that meet his criteria. Information from the Internet, advice from friends and, of course, advice from specialists on the terms of service will help him with this.

A special place in the list of banking services is occupied by car loans, in which borrowed funds are issued for the purchase of cars, motorcycles, trucks, refrigerators, and so on. Finding such offers on the Internet is no more difficult than, but it is better to explore already “ready-made” options. Below we will talk about seven current programs, the advantages and disadvantages of car loans, and whether it is worth purchasing vehicles on credit from car dealerships.

Pros and cons of a car loan

Car loans are a modern, fairly convenient and variable way for a buyer to purchase a car, and for the current owner -. Currently, banks provide borrowed funds in rubles to Russian clients; this slightly narrows the choice and makes it impossible to play on the exchange rate of the dollar or euro relative to the local currency. On the other hand, it is the transition to rubles that allows a client of a financial institution to feel safe even with serious fluctuations on the stock exchange.

Important: Both an individual and a legal entity can take out a car loan - in other words, both an ordinary citizen and an enterprise or company. The first case will be discussed below as the most common and not associated with additional bureaucratic difficulties.

Advantages of targeted loans for car purchases:

1. The opportunity to get a car right now - after signing purchase and sale and loan agreements, and not wait several months or years, trying to save up the necessary amount.
2. The conditions for the provision of borrowed funds largely depend on the borrower himself. If his credit history is ideal or at least satisfactory and he managed to convince the financial institution of his solvency, the bank will provide funds at a minimum interest rate and for a period convenient for the client. It’s unlikely that you’ll be able to take it now, but saving money on overpayments is quite possible.
3. The buyer of a car is protected by Russian legislation. He himself is free to decide where and when it is better to borrow funds, as well as whether he needs insurance and other additional banking services. Thus, at least theoretically, the client overpays to the financial institution is not so much compared to the “full range”.

Disadvantages of car loans:

1. Regardless of whether the consumer is buying for a completely new vehicle, he will have to pay an amount that significantly exceeds the amount used. Interest rates are rising every year, decreasing slightly from time to time, and due to the general failure of the domestic economy, it is increasingly difficult for a bank client to count on successful debt repayment. Consequently, the risks for the lender also increase, which in turn stimulates an increase in rates and down payments.
2. An unprepared person who does not have sufficient experience in dealing with banks will find it difficult to decide which car loan is better, and in the end it will take a considerable amount of time and effort.
3. The need for a down payment. If the future car owner cannot provide the appropriate document when applying for a car loan, he will most likely be denied. In extreme cases, the client will have the opportunity to attract guarantors or co-borrowers, and this is no less inconvenient. In addition, the down payment should not be too small: its size directly affects the interest rate.
4. Subjectivity in assessing the applicant's reliability. Unlike microfinance organizations, banks use a “live” method of information processing: decisions are made by employees of the financial institution, and not by specialized software systems. Consequently, a refusal can be obtained on any basis - from a past delay to a minor discrepancy in the data in the documents.

Important: Car loans are provided by banks only in non-cash form - by transfer to a current account. On the one hand, this contributes to greater financial security for the borrower, but in reality it is necessary to prevent misuse of funds. Be that as it may, the bank client must understand that he will not receive “papers” in his hands, and be prepared to work according to modern banking standards.

Which bank offers a good car loan?

Below are seven car loan programs. All of them are good in their own way, have obvious advantages and some disadvantages, and therefore the client himself must decide which option is best for him and where to get the necessary amount.

Lokobank - “For a new car”

1. Interest rate - from 10.4% to 11.9%
2. The borrower's age is from 21 to 68 years (at the time of final payment).
3. Required documents:

Rusfinance Bank - “Lifan Promo”

Conditions for providing borrowed funds:

1. Interest rate - from 1% to 5%, depending on the package of documents provided and the size of the down payment.
2. The minimum debt repayment period is 1 year.
3. A car loan can be closed early, without penalties or obstacles.
4. Type of monthly payments - annuity (in equal installments).
5. It is mandatory to take out OSAGO and CASCO policies.
6. The borrower's age is from 23 to 65 years (at the time of final payment).
7. Continuous work experience of 4 months and total work experience of 12 months is required.
8. You must have Russian citizenship.
9. Required documents:
   • passport of a citizen of the Russian Federation;
   • a second document allowing identification of the applicant;
   • application form, the form of which can be downloaded on the bank’s website;
   • for men under 27 years of age - military ID;
   • others - at the request of the client or the request of the financial institution.
10. An application for receiving funds is submitted in the same region where the citizen is registered.

Bank St. Petersburg - “Easy purchase”

Conditions for providing borrowed funds:

1. Interest rate - from 10.3% to 17.5%, depending on the package of documents provided and the size of the down payment.
2. The minimum debt repayment period is 1 year.
3. The maximum debt repayment period is 7 years.
4. Down payment - from 10% of the selling price of the car.
5. A car loan can be closed early, without penalties or obstacles.
6. Type of monthly payments - annuity (in equal installments).
7. It is mandatory to take out OSAGO and CASCO policies.
8. The borrower's age is from 21 to 70 years (at the time of final payment).
9. Continuous work experience of 3 months and total work experience of 6 months is required.
10. You must have Russian citizenship.
11. Required documents:
    • passport of a citizen of the Russian Federation;
    • application form, the form of which can be downloaded on the bank’s website;
    • certificates on forms 2-NDFL and (if necessary) 3-NDFL;
    • confirmation of payment of the down payment;
    • car purchase and sale agreement;
    • others - at the request of the client or the request of the financial institution.
12. An application for receiving funds is submitted in the same region where the citizen is registered.

VTB - “Freedom of choice”

Conditions for providing borrowed funds:

1. Interest rate - from 9.9% to 13.5%, depending on the package of documents provided and the size of the down payment.
2. The minimum debt repayment period is 1 year.
3. The maximum debt repayment period is 5 years.
4. Down payment - from 20% of the selling price of the car.
5. A car loan can be closed early, without penalties or obstacles.
6. Type of monthly payments - annuity (in equal installments).
7. It is mandatory to take out OSAGO and CASCO policies.
8. Continuous work experience of 4 months and total work experience of 12 months is required.
9. You must have Russian citizenship.
10. Required documents:
    • passport of a citizen of the Russian Federation;
    • application form, the form of which can be downloaded on the bank’s website;
    • certificates on forms 2-NDFL and (if necessary) 3-NDFL;
    • others - at the request of the client or the request of the financial institution.
11. An application for receiving funds is submitted in the same region where the citizen is registered.

Sovcombank - "AutoStyle-Special (Lada Finance)"

Conditions for providing borrowed funds:

1. Interest rate - from 8.99% to 11.59%, depending on the package of documents provided and the size of the down payment.
2. The minimum debt repayment period is 6 months.
3. The maximum debt repayment period is 5 years.
4. Down payment - from 20% of the selling price of the car.
5. A car loan can be closed early, without penalties or obstacles.
6. Type of monthly payments - annuity (in equal installments).
7. The borrower's age is from 20 to 80 years (at the time of final payment).
8. Continuous work experience of 4 months and total work experience of 12 months is required.
9. You must have Russian citizenship.
10. Required documents:
    • passport of a citizen of the Russian Federation;
    • application form, the form of which can be downloaded on the bank’s website;
    • for men under 27 years old - military ID;
    • others - at the request of the client or the request of the financial institution.
11. An application for receiving funds is submitted in the same region where the citizen is registered.

Bank Zenit - “For a new car”

Conditions for providing borrowed funds:

1. Interest rate - from 10.4% to 14.2%, depending on the package of documents provided and the size of the down payment.
2. The minimum debt repayment period is 2 years.
3. The maximum debt repayment period is 7 years.
4. Down payment - from 0% of the selling price of the car.
5. A car loan can be closed early, without penalties or obstacles.
6. Type of monthly payments - annuity (in equal installments).
7. It is mandatory to take out a compulsory motor liability insurance policy.
8. The borrower's age is from 22 to 65 years (at the time of final payment).
9. A minimum of 6 months of continuous work experience is required.
10. You must have Russian citizenship.
11. Required documents:
    • passport of a citizen of the Russian Federation;
    • application form, the form of which can be downloaded on the bank’s website;
    • certificates on forms 2-NDFL and (if necessary) 3-NDFL;
    • others - at the request of the client or the request of the financial institution.
12. An application for receiving funds is submitted in the same region where the citizen is registered.

Bank Uralsib - "Autopartner"

Conditions for providing borrowed funds:

1. Interest rate - from 9.9% to 11.9%, depending on the package of documents provided and the size of the down payment.
2. The minimum debt repayment period is 1 year.
3. The maximum debt repayment period is 5 years.
4. Down payment - from 20% of the selling price of the car.
5. A car loan can be closed early, without penalties or obstacles.
6. Type of monthly payments - annuity (in equal installments).
7. It is mandatory to take out OSAGO and CASCO policies.
8. The borrower's age is from 21 to 65 years (at the time of final payment).
9. Continuous work experience of 4 months and total work experience of 12 months is required.
10. You must have Russian citizenship.
11. Required documents:
    • passport of a citizen of the Russian Federation;
    • application form, the form of which can be downloaded on the bank’s website;
    • others - at the request of the client or the request of the financial institution.
12. An application for receiving funds is submitted in the same region where the citizen is registered.

Important: Since domestic banks like to change lending conditions, the future borrower is recommended to clarify the data regarding the offers that interest him before completing an application on the official websites of the relevant financial institutions or on collection portals - Sravni.ru or similar.

Is it worth taking out a car loan from a car dealership?

Despite all assurances, car dealerships do not provide loans for the purchase of a vehicle they sell. In fact, they either act as intermediaries between the financial institution and the borrower, which will certainly be mentioned in the contract, or they redirect the application to banks founded within the same brand - in particular, Toyota and Volkswagen do this.

Therefore, it makes no difference with whom exactly the motorist signs the contract: in any case, he will be dealing with a licensed legal entity. The most important thing is to study the conditions thoroughly, without rushing to enter into a lending agreement with the first bank that comes along.

Let's sum it up

Car loans are offered by consumers against the security of the purchased car. The future owner of the vehicle can enter into an agreement either independently or by involving co-borrowers and guarantors. The main advantages of car loans are the opportunity for a car owner to get a car in the shortest possible time, limiting himself to only the down payment, and independently influence the degree of trust of the bank; disadvantages are the bias of employees assessing its solvency, the use of only cashless payments and a relatively high annual interest rate.

In most cases, car loans are issued for a period of one to seven years, depending on the capabilities of the borrower. The maximum amount of funds provided is determined on an individual basis. To apply for a loan, you need, in addition to the application form and passport, to provide a number of additional documents at the request of the bank: from certificates 2-NDFL and 3-NDFL to a military ID and a purchase and sale agreement. To avoid finding yourself in an unpleasant situation, you should clarify the details of the loan program in advance - on the bank’s website or by personally contacting its nearest branch.

Currently, car loans from banks are one of the most popular types of loans used by consumers. The bank bears minimal risks: if the borrower cannot repay the debt, the vehicle is confiscated by the lender.

Many banks cooperate with car dealerships, so the borrower wonders which bank is better to take out a car loan from. This issue must be approached very seriously: the interest rate and the amount of overpayment depend on which bank the client applies for a loan. The main banks with which car dealerships work are: Sberbank, Rosselkhozbank, Nordea Bank, Rosbank, MDM Bank, VTB 24. The choice of bank remains with the borrower, because he decides where it is profitable for him to take a loan and which bank is better.

Can a loan be interest-free?

The most profitable car loan is without interest, but does that really happen? Naturally, the bank cannot issue funds to the borrower without receiving any profit from it. Therefore, the contract will necessarily indicate the interest rate.

This explains the cooperation of car dealerships with many banks at once. To increase the number of cars sold, the seller often makes a discount on the car in the amount of interest that the borrower must overpay for a certain period.

When the contract amount is repaid in full, the value of the vehicle is the same as if the car were purchased for cash. Therefore, these loans usually have a fixed term and down payment. For example, 30-0-48, where 30% is the down payment, 0% is overpayment, 48 is the term in months. Despite this, the borrower will still incur additional expenses, such as compulsory car or life insurance or some one-time fees when issuing a loan or its full early repayment.

Such loans are completely unprofitable for both the bank and the car dealership, so the seller carries out such joint promotions very rarely in order to increase sales. Therefore, against the backdrop of standard car loans, the bank can offer a promotion with a minimum interest rate and overpayment, which will still be beneficial to the borrower.

It is more profitable to take out a car loan if there is a joint campaign with the state, because it helps promote cars of its own production or domestic assembly on the market. You need to choose a car, and then check whether it falls under the condition of government support. If the vehicle is included in the list of such cars, then the loan rate will be the minimum - 4.5%. The state compensates 2/3 of the refinancing rate. The car must be no more expensive than 750,000 rubles. This loan is provided only by a few banks.

Also, if you have a car that is more than 6 years old, you can purchase a new one by recycling the old one. The borrower saves his time on selling a used vehicle, and the state thereby reduces the risk of unfriendly cars appearing on the roads.

Which bank can issue a car loan under special programs? These are Sberbank and VTB 24.

Documents provided

The interest on the loan may depend not only on the type of car (new or used), the availability of a down payment and the term, but also on the documents that the borrower can provide. Often banks issue a car loan using two documents. The first and mandatory one must be a passport of the Russian Federation with permanent registration in the region where the car was purchased, the second is optional.

1. Driving license with the category that corresponds to the purchased vehicle.
2. Certificate of income in the form of a bank or 2 personal income tax.
3. A foreign passport with travel abroad at least 1 or 2 times in the last calendar year.
4. Availability of deposits in other banks.
5. Availability of cards from other banks. Necessary to confirm the client's solvency.
6. Statement of the borrower's salary card.
7. Certificate of registration of an existing vehicle.
8. A copy of the work book.

Many credit organizations can offer a profitable car loan to those who have a salary project open at the bank, thereby seeing the borrower’s constant income and there is no need to request any additional documents. Each bank has its own list of such securities. If, when considering the application, the loan officer has doubts about the borrower, then additional confirmation of his income and solvency may be required. Having a positive credit history with successfully repaid loans will also be a big plus.

Sberbank conditions

Sberbank is one of the most famous and reliable banks that works with most car dealerships and offers the most profitable car loan. The borrower's age is 21-75 years, citizenship of the Russian Federation, length of service at the last place of work is at least 6 months, total work experience is at least 12 months. The minimum contribution is from 15% of the cost of the car. Providing a certificate 2 of personal income tax or a certificate of income in the form of a bank is a mandatory condition.

If the client makes a down payment of 30% or more, then proof of income is not required. The loan amount is from 45 thousand to 5 million rubles, the contract term is 12-60 months, the rate is 13.5-16%, there are no commissions, there is the possibility of full and partial early repayment. It is more profitable to take it from Sberbank if the client has a salary card, because the interest rate will be reduced by 1% and the period during which the application will be considered will be no more than 2 hours. Annuity payments are made under the agreement. The application review period is 2 days.

There is an option in any currency to choose from: ruble, US dollar or euro. The car will be collateral with the bank until the debt is fully repaid. In case of non-repayment of the loan under the agreement, the bank has the right to take the vehicle instead of paying the debt. Reviews are good regarding interest rates, but negative ones are due to the rather long processing of the application.

Credit programs of VTB 24 and MDM Bank

VTB 24 can offer a very wide range of programs. Through the bank’s website, you can send an online application without leaving your home, while saving your time. Age - 21-65 years, citizenship of the Russian Federation, work experience - at least 1 year, and at the last place of work - at least 3 months. Income must be at least 10,000 rubles, while in the family the income is distributed to each member and must be at least 8,000 rubles for each.

The contract is drawn up according to 2 documents. The loan amount varies from 30,000 to 6,000,000 rubles, depending on the chosen program. Interest rate - 10-18%. Depending on which car is selected, the appropriate program is selected. The first payment must be at least 10% of the cost of the car. There are no commissions, there is the possibility of full or partial repayment with a reduction in both the payment and the loan term. Having a CASCO policy is a prerequisite for execution of the contract.

MDM Bank may offer a car loan without a down payment. To do this, the client must satisfy the following parameters:

• The length of service at the last place of work must be at least 6 months;
• it is possible to have both permanent and temporary registration, provided that the term under the loan agreement is shorter;
• second additional document to choose from.

The contract amount is drawn up from 100,000 to 4,000,000 rubles, for a period of up to 5 years, the interest rate is from 12.5%, if you have a bank salary card, the rate is reduced by 1-1.5%. Reviews about this financial institution are positive due to the privilege of the loan without the 1st payment and temporary registration.

Today, a car is no longer a luxury item. Many families cannot imagine modern life without a car. Therefore, when there is no point in repairing an old car, and the money has not yet been saved for a new one, the family collects all the information about a car loan - where it is more profitable to get it, what interest rates and other loan conditions exist.

Features of car loans

One of the distinctive properties of this type of loan is that it is taken for targeted needs, i.e. for the purchase of a car. Today, almost all banks offer this loan, so choosing just one is not very easy. But at the same time, such an abundance of offers is beneficial for the borrower: due to the current competition, banks are trying to offer more favorable conditions to their customers.

The main disadvantage of a car loan is that the car remains as collateral with the bank. Those. Until it is fully redeemed, you will not be able to dispose of it at your own discretion - sell, give, etc.

The best car loan offers

To find the most profitable auto programs, you need to focus on the following aspects:

• the lowest interest rate on the loan, which determines the total overpayment,
• a small down payment - the buyer pays the borrower a certain amount to confirm his desire to take out a loan. Moreover, you can find organizations where such a contribution is not required. But it should be noted that the interest on the loan in this case will most likely be higher. Some banks even have the practice that without a down payment you can only purchase an expensive car (not cheaper than 500,000 rubles).
• The car itself is of great importance. Some lending institutions issue loans exclusively for new cars, others prefer to help with the purchase of used vehicles (but there are very few of them). But most often one rule applies - the borrower buys a car from a car dealership, not from an individual.
• car insurance program, driver health and life insurance. Almost all minimum car loan rates are valid only if the client agrees to compulsory car insurance under the CASCO program. Then the cost of servicing the loan increases. However, if you do not agree to their terms, the loan interest itself will increase.
• the smallest package of documents. There are organizations that can issue a car loan according to two documents. This is a passport and driver's license or TIN. But when you prioritize this requirement when choosing a suitable bank, do not forget that credit institutions in such cases increase the interest rate and (or) the down payment.
• There are special offers that usually involve providing installments from the machine manufacturer(most often foreign).
• State support for the purchase of domestic cars. The list of vehicles suitable for this purpose is determined by law. The state requires that the transaction be completed in rubles.
• The price of the car should not exceed 1,450,000 rubles. Thus, you can only purchase a passenger car up to 3.5 tons, starting from 2016. The down payment is ⅕ of the total cost of the car. The car loan is issued for a period of 3 years.
• As part of limited-time promotions and general programs from banks with car dealerships, you can find reduced interest rates or get a good discount to purchase a car on credit.

To choose between a car loan and non-targeted lending, you need to consider all the conditions of banks in 2019. Interest rates on non-targeted lending are also reduced. And, if everything is calculated, perhaps the overpayment will turn out to be insignificant. But you will not be forced to pay Casco and the car will remain your property. This means that if the financial situation worsens, it will be possible to sell it at a profit and pay off the missing part of the debt.

5 banks with the most profitable car loans

So that you can quickly navigate the existing variety of offers, we offer you the TOP 5 banks where it is more profitable to take out a car loan.

Car loan at VTB-24

VTB-24 is one of the most famous and well-established banks. In terms of car loans, this company offers a wide range of programs.
Currently loans are issued:

1. for a new car from 11.1% to 7 years;
2. for used cars (purchase is also possible from a private person) – up to 5 years, from 11.9%;
3. There is a state subsidy program with a 10% discount on the initial price of a new car and an initial contribution of up to 20%.
4. There are special offers for cars of the brands GM-AVTOVAZ, HYUNDAI, JAGUAR, KIA, LADA, LAND ROVER, LIFAN, SUBARU, SUZUKI, VOLVO, UAZ, GAZ.

Requirements for borrowers:

1. permanent registration in the area of ​​presence of any bank branch,
2. citizenship of the Russian Federation,
3. full-time work experience - at least one year,
4. Last job experience was more than 3 months,
5. average monthly earnings of at least 30,000 rubles,
6. age 21-65 years,
7. availability of two telephone numbers.

Car loan at Alfa Bank

This credit institution issues loans for a new or used car, and the decision is made in just 1-2 days.

1. loan amount up to 2,000,000 rubles. for a used car, up to 3,000,000 for a new one.
2. down payment - from 15% of the final price of the car,
3. rate from 12.49%,
4. Alfa Mobile application.

Requirements for borrowers:

1. age from 21 years,
2. total experience from one year,
3. permanent registration in the area where Alfa-Bank operates,
4. 90 days of experience at last job,
5. citizenship of the Russian Federation.

Car loan at Gazprombank

This credit institution offers loans for new and used cars with the following conditions:

1. down payment for new cars - from 15%, for used cars - from 20%,
2. the largest amount is 4,500,000 rubles,
3. up to 7 years, and for domestically produced vehicles up to 3 years,
4. rate - from 12.75%.

Requirements for borrowers:

1. permanent registration in the Russian Federation,
2. Work experience at last job was more than 4 months,
3. citizenship of the Russian Federation,
4. total experience of more than a year,
5. age 20 – 65 years,
6. no bad credit history,
7. The amount of income must allow you to make monthly payments on the loan.

Car loan at Vostochny Bank

There are special conditions for purchasing a used car. You can take money to purchase a car without CASCO insurance. In general, the bank's proposals are as follows:

1. consideration of the application in one day,
2. loan amount up to 1,000,000 rubles,
3. period from one to five years,
4. rate from 19%.

The requirements for borrowers are quite flexible:

1. age: 21 – 75 years (including loan term),
2. Work experience at last job was more than 3 months,
3. citizenship of the Russian Federation,
4. for citizens under 26 years of age, the total length of service is at least one year,
5. availability of income, the amount of which will allow you to pay interest on the loan.

Car loan at Rusfinancebank

This bank cooperates with more than 2000 car dealers. Therefore, you will be able to choose a car according to your needs and capabilities. The organization offers a large selection of lending programs in this area.

1. “Forsazh” for the purchase of a new car with a rate of 13.5% for a period of 2 – 5 years and an initial payment of 20%.
2. “Excellent opportunity” - issued for a new domestic car, the conditions for obtaining are similar to the “Fast and Furious” program.
3. “Dizhok” for a foreign car with mileage with a down payment of 20% from 17.5% 2 – 5 years,
4. “Used car” - for a Russian-made car with mileage with a down payment of 20% and an interest rate of 15.9% for 2 to 5 years.

Requirements for borrowers:

1. permanent registration in the Russian Federation,
2. age 23 – 65 years,
3. citizenship of the Russian Federation,
4. Minimum 4 months of experience at last job to purchase a new car, no less
5. six months to purchase a used car.

The issue is choosing the bank and the optimal program. When selecting a bank, it is important to take into account not only the recommendations and opinions of clients, but also various ratings.

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According to what parameters is it compiled?

The most significant when choosing a credit institution are:

• bank asset rating. Assets consist of the valuation of property owned by the bank, authorized capital, deposits, obligations to the bank, securities, and so on. The more assets an institution has, the higher the rating it will be assigned;
• rating of private deposits. Determined based on the amount of deposits opened by individuals. The more deposits are open in the bank, the higher the level of trust in the organization from clients;
• rating for lending to individuals. Accordingly, it is determined by the number of loans issued and the amount of borrowed funds. The credit rating signals the availability of existing credit products.

Indicators A and B may vary. For example, the AAA rating is the maximum, and the BB- rating is more close to the C rating.

• consumer credit rating;
• car loan rating;
• mortgage rating.

• Standard & Poor's (S&P). The Company primarily evaluates the creditworthiness of financial institutions. Ratings are compiled for short-term and long-term periods;
• Moody's. The company annually supports more than 30 rating systems based on various indicators;
• Fitch Ratings. Founded in 1913, the rating agency was the first to introduce a letter rating scale for banks. At the moment, the risks of sustainability and stability of banks are mainly determined;
• National rating agency. Based on sustainability indicators, Russian banks are divided into several main categories: the largest (Sberbank, VTB), large (Bank of Moscow), medium (Raiffeisenbank, UniCredit Bank) and small (regional banks, for example, Levoberezhny).

The most profitable banks for car loans in 2019

In 2019, you can get the most profitable car loan (the rating is based on data from the Compare ru website):

Interest rates on car loans are presented taking into account the government subsidy program, that is:

In terms of the volume of issued car loans, and, consequently, the degree of trust of users of credit products and the conditions of car loans, the leading positions are occupied by the following banks (the rating was compiled by Banki ru):

Name of the bank	Amount of funds issued, thousand rubles
Sberbank (including car loans issued by Cetelem Bank)	111 656 397
VTB	91 772 915
	75 056 386
	53 000 761
	36 705 333
Toyota Bank	35 988 336
	19 954 420
Plus Bank	17 865 640
BMW Bank	16 131 611
Uralsib	14 539 606
BystroBank	10 613 785
Loko-bank	9 367 943
Gazprombank	8 410 161
Credit Bank of Moscow	3 598 570
AK Bars	3 430 096
Bank "Saint-Petersburg"	2 587 672
Svyaz Bank	2 441 719
Center Invest Bank	2 441 176

In terms of the possibility of obtaining a car loan without additional insurance (CASCO), they are in the lead (according to statistics from the Compare website):

Reliability rating

Name of the bank	Reliability rating in 2019
Absolut Bank	A+
Vanguard	AA-
AK Bars	AA
Alfa Bank	AAA
Baltic Bank	IN
Bank "Saint-Petersburg"	A++
BFA Bank	A
Uralsib	A+
Binbank	AA
BystroBank	IN
VTB 24	AAA
Gazprombank	A++
Loko-bank	A+
Metallinvestbank	AA+
Metcombank	AA-
Moscow Industrial Bank	A+
Credit Bank of Moscow	A+
Plus Bank	B++
Post Bank	B+
Promsvyazbank	AA+
Raiffeisenbank	B++
Renaissance Credit	IN-
Rosbank	AAA
Rosselkhozbank	AA
Bank "Russia"	A++
Rosenergobank	A
Russian Standard Bank	BB
Rusfinance Bank	AAA
SKB bank	AA-
Sberbank of Russia	AAA
Svyaz Bank	A
Bank Sovetsky	IN
Sovcombank	AA
Bank "Soyuz"	BB-
Tinkoff Bank	A++
Transcapitalbank	A+
Opening	AAA
Fora Bank	A+
Home Credit Bank	A++
Center Invest Bank	BB
Bank Expert	B++
Energobank	A+
Uniamstrum Bank	A++
UniCredit Bank	AA+

If you don’t have enough personal funds to purchase a car, you need to find a bank that will issue a car loan.

1. Requirements for borrowers. Most requirements come down to age restrictions and registration. Age restrictions are most often 21 - 65 years old, but there are banks (for example, Cetelem Bank) that lend to people from 18 years old to 75 years old. The borrower's registration must be in the region where the official representative office of the selected bank is located.
2. Existing loan programs. Currently the most popular are:
   • classic car loan, issued upon provision of a complete package of documents;
   • express car loan To obtain it you will need two documents: a passport and a driver’s license. However, the rates for this type of lending will be higher than for the classic program;
   • Trade - in. The program involves the purchase of an old car by a car dealership and the proceeds being used as a down payment. The program has its advantages and disadvantages. The advantage, of course, is the ability to quickly sell an existing vehicle, and the disadvantage is the reduced cost of vehicles with a quick purchase;
   • Buy-back or car loan with buyback. This program is similar to vehicle leasing. Upon expiration of the car loan period, the vehicle owner has the right to return the car to the seller without paying the final installment. At the same time, the size of the monthly payment is reduced, since the payment of borrowed funds is made according to the scheme first payment + monthly payments + last payment. The size of the first and last payments is approximately the same and amounts to 15% - 30% of the cost of the car.
3. Car loan terms. Here the following are essential:
   • a list of cars that can be purchased with borrowed funds. Most banks offer car loans for new and used cars, as well as commercial vehicles. The return of a used car (7 – 15 years) and the seller of the vehicle are of fundamental importance. Some banks work exclusively with car dealerships, other credit institutions also issue funds for the purchase of a car from a private individual;
   • maximum loan amount. The indicator is determined based on the cost of the car and the necessary additional equipment;
   • loan terms;
   • bank interest rate;
   • the need and size of the down payment;
   • the need for collateral and CASCO registration. In most cases, a deposit of the purchased car is a prerequisite. A CASCO insurance policy is not mandatory everywhere. However, the lack of insurance leads to increased risks for the bank and, as a result, an increase in the cost of a car loan.
4. There are penalties for late payments. As a rule, late fees are charged by all banks, but their size can vary from 0.01% to 1% of the debt amount. In addition, fines may be charged for other actions:
   • delay in transfer of PTS to the bank;
   • delay in issuing an insurance policy;
   • failure to provide the bank with documents to confirm solvency during the validity period of the car loan agreement, and so on.
5. Rules for the seizure of a pledged vehicle to cover the debt. Most banks have the right to seize a car solely based on a court decision, but there are also creditors who do not require a court decision.
   

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